No, World Bank is not taking funding applications from Zimbabwean SMEs. A Facebook post making the claim has all the hallmarks of a web scam - ZimFact
Ngoni Mhuruyengwe
November 15, 2020
CLAIM: The World Bank has announced $1bn for Zimbabwean SMEs and is taking applications
SOURCE: A Facebook post claiming to be from Finance Minister Mthuli Ncube
VERDICT: False. The post is false and has all the signs that it is yet another web scam to harvest personal details
A Facebook page impersonating Finance Minister Mthuli Ncube claims that the World Bank is inviting Zimbabwean small businesses to apply for funding. The claim is false and appears to be another web scam to harvest personal details.
The poster on November 13 claimed (unedited): “WORLD BANK FRUSTRATED AT LOW UPTAKE OF COVID FUND: The World Bank has complained of low number of ZIMBABWE BUSINESSE’S applying for the Covid fund which was approved all the way in May. The fund was meant to cushion small businesses against shocks caused by the pandemic but most Zimbabweans have shied away from applying. Zimbabweans willing to apply for the fund can do so only through IFC website below.”
The link provided leads to a website, ifcbusiness.org. The site impersonates the World Bank’s International Finance Corporation (IFC). An article on the site, dated November 10, says: “The World Bank Board of Directors today approved a $1 billion budget support operation for Zimbabwe, which helps close the fiscal financing gap, while supporting reforms that help advance the government’s inclusive growth agenda, including in affordable housing and support to farmers’ incomes.”
It then asks you to input your details to apply; details include your name, phone number, email, physical address and other details about your company.
This is not a new scam. ZimFact checked a similar scam in June, which claimed that there was IMF funding for SMEs. Earlier, yet another similar fake post was made, claiming funding was available from USAID. This was dismissed by USAID. Both these earlier posts also asked for personal details.
The claim that the World Bank has provided funding to Zimbabwean SMEs is fake. No such announcement has been made by either the World Bank or Treasury. Web scammers harvest personal details to commit fraud or spam users with adverts.